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Wipro shares recover 9% from 52-week low; technical analysts suggest Rs 400-plus target in near term

Wipro share price: The counter's 14-day relative strength index (RSI) came at 61.19. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-equity (P/E) ratio of 23.03. It has a price-to-book (P/B) value of 3.37.
Jigars Patel Rajesh Bhosale Technical Research Analyst At Anand Rathi Adani Green Energy Wipro Ltd Senior Manager

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Factors that will drive the markets this week

The US Federal Reserves interest rate decision, quarterly earnings of corporates and domestic macroeconomic data will influence trading in the equity market in a holiday-shortened week ahead, analysts said. Foreign funds trading activity, monthly automobile sales data and global trends would also guide market movement this week, they added. Markets would remain closed on Monday on account of Maharashtra Day.
Vinod Nair Pravesh Gour Uttam Ghosh Rediff Amol Athawale Adani Enterprises Tata Steel
Source: rediff.com

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